Swissquote

Swissquote is a forex trading platform which was established back in 2002 and called Advanced Currency Markets (ACM). Since the time the company was operational, it has garnered an unsavory reputation which many considering it to be a scam.

However, ACM was later purchased by the Swissquote group in 2010, and since then things took a U-turn of sorts. The Swissquote brand today is respected and trusted.

The Swissquote brand comes directly under the regulatory oversight of the Swiss Financial market Supervisor Authority or FINMA. The company is also regulated by the Dubai Financial Services Authority or DFSA in Dubai, as well as the UK’s FCA or Financial Conduct Authority.

Swissquote having been regulated by a number of international regulators has helped the service gain lots of credibility amongst traders. But regulators and regulation is not the only factor which has boost its reputation. Under the company’s new management the service provided by Swissquote has dramatically improved. The difference is as clear as night and day.

The first clear step that distinguishes today’s Swissquote from the earlier one is a wider choice of trading platforms. The service has added a cutting edge trading platform called Advanced Trader. It is one of the most user-friendly platforms which allows traders to easily trade from a web browser on their desktop computer or a mobile device.

The platform mainly caters to traders who have used other trading platforms like the ones developed by Metaquotes Software Ltd. Swissquote also gives traders the option to use the MetaTrader5 or MT5 and the MetaTrader4 or MT4 trading platform. So, traders can opt for any platform they are comfortable using.

Swissquote has also improved the level of their customer service tremendously over the years. Nowadays the website is available in many different languages other than English making it easier for non-English speakers to trade and seek help when in need. When in need traders can easily get in touch with the company’s support staff 24 hours a day and 5 days a week (Monday – Friday).

Getting in touch with the support staff is also very easy and can be done via an array of methods. The company has support centers in Hong Kong, London, Dubai, and Malta which aim to provide a high level of customized support to traders.

All the significant changes made by Swissquote after the acquisition has lead to an increase in the number of clients. The client base today stands at over 200,000 accounts with new traders signing up each day. The broker is also ranked amongst the top 10 online forex businesses in the world.

Trading Platforms

One of the most significant advantages that Swissquote provides to their clients is in the form of their Advanced Trader which is a proprietary platform developed by the company. The platform was built from the ground up with the goal of it being able to operate seamlessly as both a web or mobile application as well as a desktop application.

Essentially this level of flexibility allows traders to take advantage of numerous profitable trading opportunities. Other than the proprietary Advanced Trading platform, traders using Swissquote as their broker can also use two other platforms namely MT4 and MT5 developed by Metaquote Software Ltd.

Most traders who have been in the industry for a while know that the MT4 or MetaTrader4 platform is considered the defacto standard. It offers an extensive list of comprehensive features which helps enhance the trader’s ability to execute trades.

The MetaTrader5 platform is an upgrade over its predecessor and offers a number of new features built into it. Since Swissquote offers various trading platforms, clients of the broker don’t have to worry about being able to switch from one to the other as they all work with the service.

Education

The learning center as it is called provides traders with all the fundamentals they need to know. The educational material is geared towards traders of all levels and varying experience.

Textual explanations are also available for a number of topics which include basic forex info like the Advantages of Forex Trading, Market Participants, and the Origins of Forex Trading, etc.

The service also hosts discussions on a number of complex trading issues like P&L Calculations, speculation and margin trading. Interestingly none of these lessons are available in video format like with other competing brokers ( IQ Option, Plus500, Interactive Brokers ) in the industry.

SwissQuote is offering a Demo

The website also hosts discussions on various other topics of a technical nature like Forex fundamental analysis versus forex technical or using forex technical indicators like the Relative Strength Index, Number theory, Stochastic Oscillator, Gaps, Charts, Moving Average Convergence Divergence, etc.

Swissquote is nevertheless one of the better forex brokers out there, but they don’t offer managed accounts and don’t send out trading signals to clients. Mr. Peter Rosentreich, the company’s chief analyst, appears many times on CNBC to provide an overview of the markets and how global trends are influencing the currency markets.

The company sends a regular newsletter as well as a snapshot thrice a day in addition to weekly market analysis, daily market brief and a technical report. All of this information is imperative to making successful trades.

Swissquote also provides a complete suite of financial terms coupled with an economic calendar that traders can use to track their trades.

Types of Accounts

Opening a live trading account at Swissquote will require that you make a deposit of at least $1000. The broker currently offers three types of trading accounts, and each has its own minimum deposit requirements:

The Standard Trading Account which requires a deposit of between $1000 to $25000.

The Premium Trading Account which requires a deposit of at least $25000 to $100,000.

The Prime Trading Account which requires a deposit of over $100,000.

Bonuses and Promotions

We were not able to find any promotions and bonuses offered by Swissquote when reviewing the service. However, the company certainly make an effort to ensure that everyone visiting the website and perhaps every trader knew that they were the official online financial and forex trading partner for Manchester United.

The partnership between Swuissquote and Manchester United started in 2015 as a way to share its expertise of the trading industry with the professional football team and other teams as well.
Deposits and Withdrawals

Traders can easily deposit funds into their trading accounts via credit cards, Chinese UnionPay, and bank transfer. The company does not impose a minimum amount for fund deposits. However, the broker does advise that traders be aware of the fees charged by corresponding banks involved with the withdrawal process to ensure that they know what’s charged.

Customer Service

Swissquote is, of course, available in English but to facilitate non-English speakers the broker’s website is available in a number of different languages such as French, Russian, Spanish, German, Arabic, Italian and Arabic.

Customer support is mainly handled via email, telephone, and live chat. Traders can also request that customer support call them back with a callback request to save on call charges.

Commission and Spreads

Swissquote does not require that traders using the service pay a commission for each trade. However, traders are charged by means of a wider spread on the assets which they trade. The spreads offered by the broker vary but are very competitive.

Take for instance frequently traded pairs like EUR/USD, which has a 1.8 pip minimum spread for the standard account, a 1.6 spread for the premium account and a 1.3 pip spread for their prime account.

The company also offers great spreads for exotic currency pairs like HKD/JPY. The minimum spread for this particular currency pair is 0.6 pips if you have a prime trading account.

Conclusion

Swissquote is part of a large multi-national banking group, and so there is certainly no question about their reliability and reputation. Mainly regulated by FINMA in addition to Emirates Securities and Commodities Authority Dubai, it is home to over 200,000 traders from across the world.

The platform, as well as the product range offered, are extensive which are well appreciated by traders of all levels. Swissquote is the broker to use or choose for anyone seeking a service with a good reputation and the assurance that their money is safe.

Is this your final decision?

We suggest you visit one of the popular Forex Brokers instead!

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Pros:

Offers a selection of Trading Platforms

The company has competitive spreads

You get an experienced Broker who has lots of wealth management experience

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